Carbon price sinks as EU vote is delayed
The European Commission is proposing to cut the supply of European Union Allowances to bolster prices, but delays to the plan are causing prices to sink, reports Gillian Carr
The postponement of a crucial vote to decide whether to delay or ‘back-load’ European Union Allowances (EUAs) as part of plans to bolster the EU Emissions Trading System (EU ETS) has caused prices to stumble to all-time lows, say analysts.
At market close on December 4, EUA futures for delivery in December 2012 settled at €5.72 ($7.39), although bounced back to €6.15 by close on December 5
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